Address poor governance: Zimcodd

POOR governance and financial malpractices in the country, if not addressed, will exacerbate public mistrust and compromise tax compliance, the Zimbabwe Coalition on Debt and Development (Zimcodd) has warned. BY MTHANDAZO NYONI In its analysis of the 2017 Auditor-General (AG)’s report findings, Zimcodd said government’s failure to enforce good corporate …

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Renewable energy players hamstrung by lack of funding

ZIMBABWE liberalised the electricity sector, but the participation of private players remains minimal. NewsDay (ND) business reporter Mthandazo Nyoni recently spoke to Renewable Energy Association of Zimbabwe chairman Isaiah Nyakusendwa (IN) about the challenges affecting the sector. Below are excerpts of the interview. INTERVIEW: Mthandazo Nyoni ND: What is the …

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2pc transaction tax funding development

Africa Moyo Senior Business ReporterFinance and Economic Development Minister Professor Mthuli Ncube says the 2 percent intermediated money transfer tax has started bearing fruit, with the money collected so far set to go towards recruitment of primary and second school teachers and a host of other developmental projects. Between December …

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Fidelity surpass gold deliveries target

Ishemunyoro Chingwere  Business ReporterGold deliveries to Fidelity Printers and Refiners (FPR) for 2018 hit a record 33, 2 tonnes up from 24, 8 tonnes the previous year as Government led stakeholder efforts to upscale production begin to bear fruit. Of note is the continued strong performance by small scale miners …

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ZPC beats quarterly power supply by 19 pc

Golden SibandaThe successful completion of Kariba South Power Station extension in April last year, has enhanced security of internal power supply in Zimbabwe with State power utility Zimbabwe Power Company (ZPC), surpassing its energy delivery target for the third quarter of 2018. This represents stark contrast to the extended period …

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Money transfer service sings the blues

ZIMPOST’S money transfer service, Zipcash, is struggling to break even due to cash shortages and failure by the South African corridor to perform up to standard, acting managing director Sifundo Moyo has said. By Staff Reporter “Zimpost’s money transfer service, Zipcash, has not experienced growth to the levels that had …

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‘Government policies should promote use of local goods’

Michael Tome Business ReporterGovernment should promote policies that stimulate individual and corporate consumption of locally produced goods and services, Buy Zimbabwe chairman Dr Anxious Masuka has said. This development comes on the back of Zimbabwe’s ever ballooning import bill leading to the country’s perennial trade deficit over the years. Addressing …

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Business slams Ncube’s forex committee

BUSINESS leaders say the setting up of a forex allocation committee by government will not solve the prevailing foreign currency crisis. BY FIDELITY MHLANGA Finance minister Mthuli Ncube last Friday set up a forex allocation committee comprising four members from the central bank, two drawn from the Finance ministry and …

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China, US trade war intensifies

Weak sales at Apple and Cargill, US giants of technology and agriculture, may be the clearest sign yet that President Donald Trump’s quest to reset world trade carries costs at home and could isolate the United States as the increasingly fragile engine for global economic growth. Apple, a global technology …

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Welcome back to Zim’s Capital Market

Compliments of the new season! While 2018 was yet another memorable investment period with the launch of the new indices and C-Trade amongst other initiatives, 2019 is promising to be even more exciting. As we welcome the new year, remember that setting financial goals for the year is certainly one …

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